Q4 2024 Jerash Holdings (US) Inc Earnings Call Transcript
Key Points
- Jerash Holdings (US) Inc (JRSH) is experiencing a tangible increase in purchase orders from long-term customers.
- The company is receiving new business from high-profile global brands through its joint venture with Busana.
- Jerash Holdings (US) Inc (JRSH) has successfully identified alternative sources of raw materials from Turkey and Egypt, mitigating logistic costs.
- The company has a strong cash position with $14 million in cash and restricted cash and $36.1 million in net working capital.
- Jerash Holdings (US) Inc (JRSH) projects a revenue increase of 14% to 15% for the fiscal first quarter of 2025 and 15% to 18% for the full year.
- Supply chain disruptions due to the Red Sea crisis have delayed production and impacted financial performance.
- Gross margin decreased significantly due to higher ocean freight and transportation costs.
- Operating expenses increased to $4.5 million in the fiscal 2024 fourth quarter compared to $4.3 million in the same quarter last year.
- Net loss for the fiscal 2024 fourth quarter was $3.1 million, compared to a net loss of $2.0 million in the same period last year.
- The company faces pricing pressure from customers and competitive market conditions, impacting its ability to raise prices and improve margins.
Good morning, everyone, and welcome to the Jerash Holdings fiscal 2024 fourth quarter and full year financial results conference call. (Operator Instructions) Please note this conference is being recorded.
I will now turn the conference over to your host, Roger Pondel, Investor Relations at Jerash Holdings. Roger, the floor is yours.
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Thanks so much, Jenny. Good morning, everyone, and welcome to Jerash Holdings fiscal 2024 fourth quarter and full year conference call. I'm Roger Pondel with PondelWilkinson, Jerash Holdings Investor Relations firm. It will be my pleasure momentarily to introduce the company's Chairman and Chief Executive Officer, Sam Choi; its Chief Financial Officer, Gilbert Lee; and Eric Tang, who leads the company's operations in Jordan. Both Sam and Eric are in Jordan.
Before I turn the call over to Sam, I want to remind our listeners that today's call may include forward-looking statements within the meaning of the
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